Your Results:

The correct answer for each question is indicated by a .

1

Top-level management members are charged with the responsibility for overseeing all aspects of the strategic management process. The strategic management process is comprised of all but which of the following?

A)

Performance of an internal environmental analysis

B)

Determining primary competitors

C)

Analytical examination of the external environment

D)

Defining the mission of the organization

E)

Implementation of competitive advantage strategies

2

A primary strategic management tool is a/an ____ analysis. The objective of this tool is to analyze factors from inside and outside the organization that may impact upon the success of the business.

A)

scanning

B)

monitor

C)

assessment

D)

forecast

E)

S.W.O.T.

3

Of the following items, which one is not considered a component of an external analysis?

A)

Assessing

B)

Scanning

C)

Profiling

D)

Monitoring

E)

Forecasting

4

Ronald is one of the upper management leaders for his company. He has recently completed a process in which he was able to identify the early signs of an emerging trend for increased diversity within consumers that purchase products manufactured by his organization. Jeremy most probably completed which of the following components of an external analysis?

A)

S.W.O.T.

B)

Forecasting

C)

Monitoring

D)

Scanning

E)

Assessment

5

Homer spends his management work hours observing environmental changes continuously. It is his job to determine whether or not a clear trend is emerging so that he may alert his organization. It can be stated Homer is engaged in ________.

A)

organizing

B)

predicting

C)

forecasting

D)

assessment

E)

monitoring

6

If a firm intentionally delays investing in something such as new information technology based on potentially lower costs in the future, it has most probably based its decision on _______.

A)

predicting

B)

forecasting

C)

S.W.O.T.

D)

monitoring

E)

scanning

7

Evaluation of environmental data received to study the implications for the firm is the process of ______.

A)

assessing

B)

monitoring

C)

scanning

D)

value chain analysis

E)

concentric diversification

8

An environmental analysis affords managers the ability to examine the environment at all but which of the following levels?

A)

Direct competitors

B)

The industry

C)

The general environment

D)

Vertical integration

E)

Strategic groups

9

A top name automobile manufacturer is anticipating an increased need for more luxury type vehicles to be manufactured in the immediate future. This decision is most probably based on studies from which segment of the external environment?

A)

Demographic

B)

Economic

C)

Globalization

D)

Cultural

E)

Political

10

Which part of the environment consists of the norms, values, and preferences of a society?

A)

Demographics

B)

Individualism

C)

Socio-cultural

D)

Globalization

E)

Regulatory

11

A/An _______ is composed of a group of firms with products than can substitute for one another.

A)

strategic alliance

B)

conglomerate

C)

benchmark

D)

value chain

E)

industry

12

Harvard professor Michael Porter introduced a framework for analyzing the industry environment. Which of the following is not considered one of the forces identified by Porter?

A)

Intensity of rivalry among competitors

B)

Threat of substitutes

C)

Scale of involvement

D)

Threat of new entrants

E)

Impact of suppliers

13

Which one of the following would not be considered a barrier to entry to new companies desiring to enter the industry?

A)

Increasing product demand

B)

High capital requirements

C)

Strong brand identification

D)

Economies of scale

E)

Intellectual property rights

14

Which of the following may be used by firms in order to improve their market positions?

A)

Different competitors

B)

Extended warranties

C)

Value chain

D)

Imitation

E)

Free options

15

The Solar Corporation possesses several areas of strength. It currently excels within the industry at providing service to its customers. This strength can be classified as a/an _______ for the Solar Corporation.

A)

strategic vision

B)

core competency

C)

concentric diversification

D)

objective

E)

benchmark

16

A strategic group may adopt all of the following common strategies except ________.

A)

technological leadership

B)

quality standards

C)

products

D)

prices

E)

customer services

17

Of the following, which one would not be considered a rationale for the value of the core competencies of a firm's human capital?

A)

Their knowledge is unique

B)

The firm's individual mission guides their contributions

C)

Each has a unique organizational culture to provide guidance

D)

Little cost is involved with replication

E)

Attempts at duplication is risky

18

Of the following, which is best identified as a strategic management analysis that breaks the firm down into a sequential series of activities and attempts to identify the worth added by each activity?

A)

Functional analysis

B)

Concentric diversification strategy

C)

Benchmarking

D)

Forecasting

E)

Value-chain analysis

19

When Dale compares the capabilities of his organization with those of his closest competitors in order to derive possible improvements within his company, he is ____.

A)

strategizing

B)

forecasting

C)

benchmarking

D)

differentiating

E)

scanning

20

All of the following are considered stages of benchmarking except _________.

A)

Identifying leading edge firms

B)

Diversification

C)

Visiting other firms

D)

Redefining goals

E)

Identifying areas of weaknesses

21

Intel's ________ states that "we intend to become the premier building block supplier to the computer industry."

A)

Vision statement

B)

Strategic intent

C)

Strategic mission

D)

Objective

E)

Goal

22

A firm's strategic plan to create and manage a mix of businesses owned by a firm is referred to as a ____________.

A)

diversification strategy

B)

corporate-level strategy

C)

management-level strategy

D)

company strategy

E)

portfolio strategy

23

According to the BCG Matrix, which of the following is described as a business unit that has a high market share and operates in a growing market?

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